Contracted use of foreign capital increases
- Details
- Category: Ningbo Business
- Published: Wednesday, 10 February 2016 17:09
Statistics from Ningbo Municipal Commission of Commerce show that in 2015 Ningbo witnessed a steady increase of use of foreign capital, with the contracted use and actual use of foreign capital increasing by 9% and 5.2% respectively.
After the low increase of the previous years, the manufacturing has returned to the high-speed increase track in its use of foreign capital. In 2015, the actual use of the foreign capital by the industries in Ningbo reached US$2.283 billion, up by 21.5% over the previous year, accounting for 53.9% of the total use. Among others, the petrol processing and nuclear fuel industry attracted US$333 million, and the transport and equipment manufacturing industry attracted US$884 million, 7.7 times and 12.3 times respectively those in 2014.
In terms of the source of foreign capital, the European countries witnessed significant growth. In 2015, Ningbo attracted US$913 million from Europe, 7.6 times that of 2014. Germany and the US were the two major sources, with the actual use of capital standing at US$801 million and US$63.34 million. In the same period, the actual use of the Hong Kong capital decreased by 21.3%, 17.4 percentage points lower than in 2014.
The Fortune 500 enterprises are still the major source for capital introduction in Ningbo. In 2015, Chevron Corporation from the US signed an agreement with Ningbo Economic and Technological Development Zone to establish a lubricant addictive project, with a total investment of US4160 million for the first phase and an annual production volume of 100,000 tons of lubricant addictive. Huarun Group from Hong Kong, a Fortune 500 company, optimistic about the development of Ningbo's public service field, invested US$27.78 million to establish the Huarun Gas Co. Ltd. In Xiangshan County, operating the pipeline fuel gas and bottled fuel gas. According to the statistics from Ningbo Municipal Commission of Commerce, by the end of 2015, 49 Fortune 500 companies had funded 110 projects in Ningbo, with a total investment of US$10.72 billion.
